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First Corporate Solutions
Top 5 Filing Mistakes on UCC1 Financing Statements
August 29, 2019
A Secured Party must file their UCC1 Financing Statement quickly and correctly In order to perfect their security interest. Inaccurate, incomplete or untimely filings can prove costly for lenders as they open the door for secondary parties to claim a priority position.
1. Failing to file under the exact legal name
A UCC filing must properly identify the debtor to effectively perfect a security interest. To satisfy this requirement,…READ MORE
Legislation Effective September 1st
August 21, 2019
House Bill 1159
Relates to acknowledgment of written instruments on behalf of limited liability companies.
Senate Bill 1258
Provides for prosecution under the Penal Code of LLCs and other entities governed by the Business Organizations Code.
House Bill 3609
Provides for business entities to file assumed name certificates only in the office of the Secretary of State and repeals the requirement to also file in county clerk…READ MORE
Texas Revised Assumed Name Filing Requirements
August 21, 2019
Texas House Bill 3609: Effective September 1st, 2019
Amends the Assumed Business or Professional Name section (Title 5, Chapter 71) of Texas Business and Commerce Code to remove county filing requirements.
Assumed Name Requirements
Entities required to file Certificates of Assumed Name if regularly doing business under an assumed name:
• Domestic Business Corporations
• Limited Liability Companies (LLCs)
• Limited Liability…READ MORE